Show CANAL 20 YEARS OLD Twenty years ago on August 15 the Panama Canal was open open- opened eq ed but during Its early years traffIc was not great greaf OWIng to land landslIdes landslides slIdes whIch closed the channel from tune time to tIme and also be- be because because cause of the reduced movement of shipping due to the war The canal was not declared ed offIcially opened untIl 1920 SInce which time about commercIal toll paYIng vessels have pas pas- passed passed sed through It paYIng tolls exceedIng In addItIOn m many ny American warshIps and other government vessels have used the canal anal free toll Up to 1933 expenditures In building and the canal had nad leached mIllion dollars the Interest on whIch at 3 per cent centis js is more than 16 million dollars a year Contrary to the general belief the Panama Canal has not been a paying proposItIon for the United States government when I its investment in III the IS considered During the past few I Iy y years ars tile the deficit has e four million dollars a year TIc The I only way in which the canal can be considered an asset to the f d- d deral I d-I eral government is by taking into account its supposed value to the national defense Whether the canal could be defended against a first class power In time of war is one of the country's milItary problems This problem dId not arIse during the World War as the Central Powers had no fleet in eIther the AtlantIc or Pacific after the UnIted States entered the |